Bharat 22 ETF attractive for long term investors, says DIPAM Secy

ANI | Updated: Nov 15, 2017 17:21 IST

New Delhi [India], Nov 15 (ANI): Department of Investment and Public Asset Management (DIPAM) Secretary Neeraj Kumar Gupta on Wednesday said that Bharat 22 Exchange Traded Fund (ETF) will be extremely lucrative for long term investors.

"Both retail and pension fund investors will find it very attractive for long term investment. Investing in Bharat 22 ETF is like participating in the Indian growth story and investors who do so will join in the growth story of India," Neeraj Kumar Gupta told ANI.

Highlighting on the ETF, Gupta said that the fund has so far receieved a tremendous response with the anchor book being over subscribed six times.

"This scale of participation in one product in the recent past is unprecedented. The anchor book has been over subscribed six times, and domestic investors have participated in a big way," added Gupta.

The ETF comprises of 22 companies across six sectors, which includes bluechip and private companies such as Larsen & Tubro (L&T), Axis Bank, and ITC.

However, the fund also includes three public sector banks, namely State Bank of India (SBI), Bank of Baroda, and the Indian Bank. (ANI)